TOKYO, Mar 26 (Pulse News Wire) – Sincere CO.,LTD. (7782.T) announced today that its board of directors held on March 26 decided to distribute restricted shares as part of its equity compensation plan.
The distribution will take place on April 24, involving a total of 56,800 ordinary shares valued at ¥455 per share, totaling ¥25.8 million. The shares will be distributed among two executives and 43 employees. The purpose of this distribution is to incentivize sustained growth in the company's value and enhance shareholder alignment, while also ensuring the protection and maintenance of the company’s reputation through strict conditions on the sale of these shares.
Executives receiving shares must hold them until their departure from the company or until the filing of the annual securities report, whichever comes later. Employees must retain their shares until April 23, 2031, subject to certain exceptions such as retirement due to death or reaching mandatory retirement age. Under the agreement, if executives or employees violate the terms of the agreement, the company reserves the right to reclaim the shares without compensation.
Additionally, during organizational restructuring, certain provisions allow for early release of restrictions based on specific criteria set forth by the board.
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